The sun. [volume] (New York [N.Y.]) 1833-1916, 1887-06-05
THE ADVANCE IN COFFEE.
HISTORY OF A NOON IN WHICH THERE
WE'RE MILLIONS.

WE'RE MILLIONS.
The Consumer Puts UP with Beans. Dried
Pca., ana Tes-BrasiI CoGce Up goo pes
Cent. In Year and n Hnif-Ia the Presene
syndicate sitting on voicanof
In triangular room Of very modest pro-
portions at tho junction Of Beaver and Pearl
streets. and which Is described rs tho only
Coffee Exchange In the country, 200 brokers
have shouted for seventeen months with such
yigor that men In London, Havre. Berlin.
Amsterdam, and Rio Janeiro, and In the big
cities Of America. have heard them and listened
with profound attention. The sonorous sounds
from the brokers have gradually penetrated 70
every homo where Brazilian coffee is used, un'
til now, as a cost Of the music, the consumer
must pay % cents pound for his coflee In
stead of the sx cents which was the price be-
fore the brokers and their principals started In
to make themselves heard.
The history Of the great boom In oof1ee dates
from January. 1886, when NUMBER OF the
older coffee houses were lod to believe from re.
ports received from Rio Janeiro that there was
every probability that the crop for lSS8-sI.
that is. from July ]. 1886. to July 1, 1887 would
be much smaller than that OF any crop year
since 1S78-79, when 100000 bags was all
that Brazil could spare and the h., price tor tae
pound. Little attention was paid to the fact
Extend The area OF their lands for the .eultiva.
ton of coffee to such an extent that the crop
e. f
81 s- sn s" CROPS ~ 1soo s Aays
IssI s s$S$S 1855 :::: '''00''
1t was quite true that In January. 1886. there
were heavy accumuations Of Brazil c ,S IN IN
I price FOR The grade IN use had fallen
70 6@ cents noundii me oiE ot aeeubm agnae
lsss.Iss1 would be as small IS The Yield 70, ior
lss9 There were %n1 nU
pace with the Consumption. and accounted
tor the large accYmulatons OF Brazil E, conGe as
s aad Eu i4S,a'n'Al '''' 'i'' - ''.s
Some q those whE accepted the prsSSS.9n
s 81 haS ITO
aHe,9In were Joseph p9noGsre
city, and following close on their hsels were
Busch cq Haass SrobsTs louis Haas
and Louis Reinhardt, all bankers IN hay I
Beest the leading Spectator OF aayrs S also
70 ssshy !h mem Tsoy acted GsS anssp
sfev s table q priees for the grade in gen:
eral use:
February l. 1885,. esse October 1880 s, esss;
Hss XVI; 5sss jsssa2s ss
September 1850. $500. '''
A Of ts Seen BIZ
en aSs advances to dis discount ali CHANCES
short crop t2r aho s 6v re 0n fro
Rio Janeiro witch CLEARLY demonstrated that
many Of the predictions baye nG p
moined nloof from tie bull side Since except
incident e IF daily sp sSsi ,Es.
on the IT Toqa sed by the
r neei ~ at Rio 3aneiro. Up to June i. ono
month oniy 9 XXX bars n or an Average OF
lsG IN hsgs ontP and II the same average
is mt Ras fer t t the last
IN In II The fitoen months these New York and
ons ~ b Were on az the Coee Exchanse and
the s' sessions Of the Exc hanse rose IN lmpor:
S Sct Se.s and fmt S56nUoo viii fairly repre-.
the q 3 hlse S New York
IL Then i poppod IN what is now known as the
an h n az ani
their representatives in this City. The princi.
Pas srs S PS Shn Sa NJ
after r. t As bayng oices In ths city. Theii
chief hrokers on the Coffee Exchange nro
Arnold / Co. William Scott, Son 4 Co, and
Harry Hentz
Thc Rrmziijun svndicate pooh-poohed tbs
New York and Hayre mon for getting out, and
In tho moo nj the renortCd receints even lin Ia
Anil ,I acIar,d Az Il TO- be tber tirm beef that the
cron cortainly wouldn't exceed 1900, 900 bags.
They flung into the Exchange buying orders
To- to ~ ANTS S + nonnd thnv were atsisted in
their efforts by the following of a large contin-
gent OF speculators from ali the down town
Eychanpes and after a momentary halt at ii
CENTS the riso was continued. until ON Friday
81 cents was raeched On the way mn to ia
cents proti, we're Cautiously eorraiisd, but yes-
terdny It was computed that Arnold K Co. are
st caTy INK 10000 b%pis william ant Scott s1n
bags for he Braziiisn syndicate. One of the
solid men of the Exchange said yesterday:
OF the market. Prior to tho is-cent deal they
made money but they are now carrying a
heavy load OF cofIee with nobody to take ii off
their hands at these prices. fhe New York